11th April 2007

2006 Significant year of achievement for Radio Taxis Group

  • £2.8 million invested in the Group
  • Significant new blue-chip client wins
  • Turnover increased by 4.4% to £47.9 million

Radio Taxis Group Chairman, Geoffrey Riesel, has heralded a significant year of achievement in his Chairman’s Report, accompanying this year’s Annual Report and Accounts.

2006 was a year of development for Radio Taxis with £2.8m invested across the Group. It strengthened its management and sales team which resulted in significant new blue-chip client wins including winning back the Westminster City Council account.

Financially, the Group performed well, with an increase in turnover of 4.4% to £47.9m and a growth in gross profit margin to 22.1%. The Group also significantly reduced its operating loss to £0.36 million from £1.6m in 2005.

In the past year the organisation had made significant headway in realising its strategic goal to become a world-class ground transport provider. Two years ago, Radio Taxis Group began to diversify its business to meet the changing needs of its customers and as a result is now delivering strong growth across all aspects of the business.

Geoffrey Riesel, Chairman, said:

"Radio Taxis Group is transforming ground transport provision in the UK. We are building upon our heritage of excellent customer service whilst also introducing market leading initiatives, such as our revolutionary ground transport management system. A great example of how we are capitalising upon and meeting the changing needs of customers is through our CarbonNeutral® status which has secured us over £1m of new business in the past year.

"We have laid the foundations for a strong company that is delivering not only for our shareholders, drivers and staff, but most importantly for our customers. 2006 was a year of significant achievement, and as a result of the hard work of our drivers and staff, we expect this great trend to continue into the next twelve months."

Ends

Notes to Editors

  • Formed in 1953, Radio Taxis Group provides a single point solution for all business and private ground transport needs. It was de-mutualised in June 2004.
  • Based in North London, Radio Taxis Group’s fleet of over 3000 vehicles includes chauffeur driven executive cars, black taxis, private hire vehicles (including an in-house driver training school) and a motorbike and van courier service.
  • Radio Taxi Group subsidiary One Transport is the first UK company to offer a fully integrated booking and review system, allowing customers to book online and then quickly and accurately track their usage afterwards.
  • Radio Taxi Group has pioneered sustainable transport systems in the UK. It was the first CarbonNeutral® transport service provider, invests heavily in energy and emissions reductions programmes and has an in-house R&D facility dedicated to reviewing new technologies that target improving environmental performance
  • Radio Taxis Group has been recognised by a number of independent awards, including The Energy Savings Trust Best Practice Award, the Business in the Community Awards for Excellence, the Impact on Society Award, the CIMA Financial Management CSR Award and the Business Travel Weekly award for Business Road Service.

For further information about Radio Taxis Group, informed comment, interview or images please contact:
Paul Donlon / Oliver Williams (Four Communications Plc)
- E: rtg@fourcommunications.com
- T: + 0044 (0) 870 420 3268